Marcus & Millichap (NYSE:MMI) Stock Passes Above 200 Day Moving Average – What’s Next?

Marcus & Millichap, Inc. (NYSE:MMI) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $27.47 and traded as high as $28.73. Marcus & Millichap shares last traded at $28.52, with a volume of 316,394 shares.

Analyst Ratings Changes

Several research analysts have recently commented on MMI shares. Weiss Ratings downgraded Marcus & Millichap from a “sell (d+)” rating to a “sell (d)” rating in a research note on Monday, May 11th. Wells Fargo & Company reduced their target price on Marcus & Millichap from $29.00 to $28.00 and set an “underweight” rating for the company in a research note on Monday, February 2nd. Finally, Wall Street Zen downgraded Marcus & Millichap from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. One analyst has rated the stock with a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Sell” and an average target price of $28.00.

Marcus & Millichap Stock Performance

The business has a fifty day simple moving average of $27.40 and a 200 day simple moving average of $27.48. The stock has a market capitalization of $1.09 billion, a price-to-earnings ratio of -2,880.62 and a beta of 1.25.

Marcus & Millichap (NYSE:MMI) last issued its quarterly earnings data on Thursday, May 7th. The real estate investment trust reported ($0.08) EPS for the quarter, meeting analysts’ consensus estimates of ($0.08). The firm had revenue of $171.47 million for the quarter, compared to analyst estimates of $162.20 million. Marcus & Millichap had a positive return on equity of 0.43% and a negative net margin of 0.08%.The company’s revenue for the quarter was up 18.3% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.11) EPS.

Insider Buying and Selling at Marcus & Millichap

In other news, CEO Hessam Nadji sold 1,300 shares of the company’s stock in a transaction on Friday, March 13th. The stock was sold at an average price of $25.60, for a total transaction of $33,280.00. Following the completion of the sale, the chief executive officer directly owned 480 shares in the company, valued at approximately $12,288. This represents a 73.03% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 39.20% of the company’s stock.

Institutional Trading of Marcus & Millichap

A number of institutional investors have recently modified their holdings of MMI. AQR Capital Management LLC lifted its position in shares of Marcus & Millichap by 42.8% during the 1st quarter. AQR Capital Management LLC now owns 13,702 shares of the real estate investment trust’s stock valued at $472,000 after acquiring an additional 4,110 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Marcus & Millichap by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,952 shares of the real estate investment trust’s stock valued at $481,000 after acquiring an additional 600 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Marcus & Millichap by 12.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 77,339 shares of the real estate investment trust’s stock valued at $2,664,000 after acquiring an additional 8,369 shares during the period. Jane Street Group LLC lifted its position in shares of Marcus & Millichap by 325.7% during the 1st quarter. Jane Street Group LLC now owns 43,091 shares of the real estate investment trust’s stock valued at $1,484,000 after acquiring an additional 32,968 shares during the period. Finally, Strs Ohio bought a new stake in shares of Marcus & Millichap during the 1st quarter valued at $145,000. 62.78% of the stock is currently owned by institutional investors.

About Marcus & Millichap

Marcus & Millichap (NYSE: MMI) is a leading commercial real estate brokerage firm focused on investment sales, financing, research and advisory services. Founded in 1971 by George M. Marcus and William A. Millichap, the company has grown to specialize in the marketing of multifamily, retail, office, industrial, hospitality and other commercial property types. Through an extensive network of investment specialists, Marcus & Millichap connects property owners and investors with tailored transactions across a range of asset classes.

The firm offers comprehensive capital markets solutions, including debt and equity placement, structured finance, and customized financing programs.